BTG Pactual Asset Management US LLC

NEW YORK, NY · CIK 1569579 · 13F filing filed 2026-08-14

SEC-registered investment adviser since 2010 · limited liability company

Assets managed$30.1bn
Staff180 · 108 in investment roles
Main clients (by assets)Private funds 67%, Sovereign wealth funds 24%, Companies 6%
Private funds35 (4 hedge) · $19.6bn gross assets
Form ADV · 2026-09-18SEC adviser record

Legal entityBTG PACTUAL ASSET MANAGEMENT US, LLC (US)

Kindhedge funds, private equity, futures
Others nearbyNew York, NY, Miami, FL, Stamford, CT, Atlanta, GA, West Palm Beach, FL, Seattle, WA

As an employer

Offices in1 country
Private fundshedge 4, private equity 29, other private 2

Where they work

people there (dot area)number not reportedmain officeHover or tap a dot. Australian and UK companies are placed at their business or registered address, with their staff across the whole country.

Offices

From Form ADV: the main office and the other offices where it does advisory work (at most the 25 largest), with the people doing investment work at each. “About” is worked out: the firm's investment staff less its other offices. Each city links to the other managers there.

City	Country	People
New York, NY (main office)United States	United States	about 45
Miami, FLUnited States	United States	46
Stamford, CTUnited States	United States	8
Atlanta, GAUnited States	United States	2
Seattle, WAUnited States	United States	2
West Palm Beach, FLUnited States	United States	2
Evanston, ILUnited States	United States	1
Missoula, MTUnited States	United States	1
Watkinsville, GAUnited States	United States	1

US visa salary filings

Filings FY20253
Median salary offered$163,200
Middle half$129,100 – $163,200
Job titles2

Job title	Filings	Median	Range
Quantitative Portfolio Associate DirectorNew York, NY	2	$163,200
Credit And Securitization AnalystNew York, NY	1	$95,000	$95,000 – $110,000

Source: US Department of Labor, Labor Condition Application disclosure data (certified, full-time, yearly equivalent). These are the salaries the employer committed to pay the visa roles it filed for, at least the prevailing wage for the job and place; they are not the pay of all its staff. Filed by: BTG Pactual Asset Management US LLC.

Map: places from GeoNames (CC BY 4.0), outlines from Natural Earth.

$1.3bn reported value +30.4% vs Q1 2026

415positions

35.9%in top 10

193 new 142 added 46 reduced 82 sold out vs Q1 2026

Options: 24 call positions ($94.4m notional), 22 put positions ($174.7m notional) – listed below, not included above.

This report includes the holdings of 2 other managers that share the investment decisions:

BTG PACTUAL (UK) Ltd – reports through this filing
BTG Pactual Asset Management S.A. DTVM – reports through this filing

Shares in two reports are counted once in each security's totals.

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	VANGUARD INDEX FDS S&P 500 ETF SHS VOO	VOO	189,201	$129.9m9.70%	9.70%	Added +14.8k	+14,849 8.5%
2	ISHARES TR RUS 1000 GRW ETF IWF	IWF	701,822	$87.1m6.50%	6.50%	Added +14.2k	+14,202 2.1%
3	VANGUARD WORLD FD MEGA GRWTH IND MGK	MGK	515,749	$45.3m3.38%	3.38%	Added +26.0k	+26,034 5.3%
4	NVIDIA CORPORATION COM NVDA	NVDA	205,029	$41.0m3.06%	3.06%	Added +56.3k	+56,300 37.9%
5	AMAZON COM INC COM AMZN	AMZN	144,436	$34.4m2.57%	2.57%	Added +23.7k	+23,655 19.6%
6	VANGUARD WORLD FD MEGA CAP VAL ETF MGV	MGV	208,483	$34.1m2.54%	2.54%	Reduced -5.8k	-5,793 -2.7%
7	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS TSM	TSM	65,578	$31.3m2.34%	2.34%	Added +15.4k	+15,430 30.8%
8	VANGUARD INTL EQUITY INDEX F FTSE EUROPE ETF VGK	VGK	296,790	$26.3m1.96%	1.96%	Added +12.1k	+12,124 4.3%
9	ALPHABET INC CAP STK CL C GOOG	GOOG	74,251	$26.2m1.96%	1.96%	Reduced -1.6k	-1,593 -2.1%
10	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	49,371	$24.7m1.84%	1.84%	Added +4.4k	+4,376 9.7%
11	VANGUARD SCOTTSDALE FDS VNG RUS1000GRW VONG	VONG	170,312	$20.8m1.55%	1.55%	Added +95.2k	+95,167 126.6%
12	JPMORGAN CHASE & CO COM JPM	JPM	57,792	$18.9m1.41%	1.41%	Added +6.2k	+6,176 12.0%
13	SELECT SECTOR SPDR TR SBI HEALTHCARE XLV	XLV	115,762	$18.4m1.37%	1.37%	Added +24.0k	+24,040 26.2%
14	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	24,098	$18.0m1.34%	1.34%	Reduced -2.5k	-2,537 -9.5%
15	SPDR GOLD TR GOLD SHS GLD	GLD	48,474	$17.9m1.33%	1.33%	Added +5.1k	+5,075 11.7%
16	XCEL ENERGY INC COM XEL	XEL	196,478	$15.8m1.18%	1.18%	Added +61.3k	+61,314 45.4%
17	VANGUARD INDEX FDS MID CAP ETF VO	VO	184,581	$14.9m1.11%	1.11%	Added +20.9k	+20,877 12.8%
18	PPL CORP COM PPL	PPL	403,390	$14.7m1.09%	1.09%	Added +304.1k	+304,062 306.1%
19	GE VERNOVA INC COM GEV	GEV	12,322	$14.5m1.08%	1.08%	Reduced -779	-779 -6.0%
20	ELI LILLY & CO COM LLY	LLY	11,902	$14.3m1.07%	1.07%	Reduced -37	-37 -0.3%
21	AMEREN CORP COM AEE	AEE	121,597	$13.7m1.03%	1.03%	Reduced -11.1k	-11,138 -8.4%
22	AMERICAN ELEC PWR CO INC COM AEP	AEP	94,224	$12.9m0.96%	0.96%	Added +1.2k	+1,204 1.3%
23	OGE ENERGY CORP COM OGE	OGE	259,375	$12.6m0.94%	0.94%	Added +139.7k	+139,663 116.7%
24	VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF VWO	VWO	208,277	$12.4m0.93%	0.93%	Added +8.5k	+8,499 4.2%
25	ITAU UNIBANCO HLDG S A SPON ADR REP PFD ITUB	ITUB	1,450,962	$11.9m0.88%	0.88%	Added +107.2k	+107,153 8.0%
26	META PLATFORMS INC CL A META	META	20,597	$11.6m0.87%	0.87%	Added +865	+865 4.4%
27	KOSMOS ENERGY LTD NOTE 3.125% 3/1 · principal KOS 3.125 03.15.30 · principal	KOS 3.125 03.15.30	15,705,000	$11.5m0.86%	0.86%	Unchanged
28	NU HLDGS LTD ORD SHS CL A NU	NU	844,478	$11.4m0.85%	0.85%	Added +330.6k	+330,601 64.3%
29	ONE GAS INC COM OGS	OGS	147,317	$11.4m0.85%	0.85%	Added +42.0k	+42,039 39.9%
30	BROADCOM INC COM AVGO	AVGO	28,500	$10.8m0.80%	0.80%	Added +18.3k	+18,299 179.4%
31	ISHARES INC MSCI JPN ETF NEW EWJ	EWJ	113,598	$10.6m0.79%	0.79%	Reduced -3.2k	-3,184 -2.7%
32	UNITED RENTALS INC COM URI	URI	8,943	$10.1m0.76%	0.76%	Reduced -33	-33 -0.4%
33	VALE S A SPONSORED ADS VALE	VALE	671,082	$10.1m0.75%	0.75%	Added +80.5k	+80,515 13.6%
34	PETROLEO BRASILEIRO SA PETRO SPONSORED ADR PBR	PBR	617,747	$10.0m0.74%	0.74%	Added +53.5k	+53,477 9.5%
35	GE AEROSPACE COM NEW GE	GE	25,995	$9.7m0.72%	0.72%	Added +23.7k	+23,662 1014.2%
36	INVESCO QQQ TR UNIT SER 1 QQQ	QQQ	13,097	$9.6m0.72%	0.72%	Added +13.1k	+13,064 39587.9%
37	CMS ENERGY CORP COM CMS	CMS	120,155	$9.2m0.69%	0.69%	Added +49.3k	+49,282 69.5%
38	CONSTELLATION ENERGY CORP COM CEG	CEG	36,946	$9.2m0.68%	0.68%	Added +12.4k	+12,395 50.5%
39	VISA INC COM CL A V	V	25,208	$8.6m0.65%	0.65%	Added +1.1k	+1,110 4.6%
40	ETFIS SER TR I VIRTUS REAVES UT UTES	UTES	103,391	$8.2m0.61%	0.61%	Added +22.7k	+22,715 28.2%
41	SEMPRA COM SRE	SRE	87,580	$8.1m0.61%	0.61%	Added +84.9k	+84,859 3118.7%
42	VANGUARD WORLD FD HEALTH CAR ETF VHT	VHT	26,316	$7.9m0.59%	0.59%	Added +1.7k	+1,674 6.8%
43	EURONAV NV SHS CMBT	CMBT	559,729	$7.8m0.58%	0.58%	Added +470.7k	+470,726 528.9%
44	PG&E CORP COM PCG	PCG	461,172	$7.8m0.58%	0.58%	Reduced -22.1k	-22,104 -4.6%
45	WEBSTER FINL CORP COM WBS	WBS	100,286	$7.7m0.57%	0.57%	Added +30.3k	+30,286 43.3%
46	VANGUARD WORLD FD INF TECH ETF VGT	VGT	62,639	$7.5m0.56%	0.56%	Reduced -5.5k	-5,497 -8.1%
47	ALPHABET INC CAP STK CL A GOOGL	GOOGL	20,479	$7.3m0.55%	0.55%	Added +4.9k	+4,883 31.3%
48	ABBVIE INC COM ABBV	ABBV	28,406	$7.1m0.53%	0.53%	Reduced -70	-70 -0.2%
49	MILLICOM INTL CELLULAR S A COM STK TIGO	TIGO	78,417	$7.1m0.53%	0.53%	Added +745	+745 1.0%
50	NORFOLK SOUTHN CORP COM NSC	NSC	22,539	$7.1m0.53%	0.53%	Reduced -80	-80 -0.3%
51	VANGUARD WORLD FD FINANCIALS ETF VFH	VFH	53,391	$7.0m0.52%	0.52%	Added +1.5k	+1,519 2.9%
52	VANGUARD INDEX FDS SMALL CP ETF VB	VB	22,833	$6.9m0.52%	0.52%	Reduced -3.9k	-3,850 -14.4%
53	GLOBAL X FDS GLB X MLP ENRG I MLPX	MLPX	85,522	$6.3m0.47%	0.47%	Added +1.0k	+1,003 1.2%
54	ENTERGY CORP NEW COM ETR	ETR	54,588	$6.3m0.47%	0.47%	New
55	MARA HOLDINGS INC NOTE 3/0 · principal MARA 0 03.01.30 · principal	MARA 0 03.01.30	6,000,000	$6.0m0.45%	0.45%	Unchanged
56	VISTRA CORP COM VST	VST	39,015	$5.9m0.44%	0.44%	Reduced -17.2k	-17,161 -30.6%
57	WARNER BROS DISCOVERY INC COM SER A WBD	WBD	206,400	$5.5m0.41%	0.41%	Added +64.4k	+64,400 45.4%
58	COMMSCOPE HLDG CO INC COM VISN	VISN	400,000	$5.1m0.38%	0.38%	Unchanged
59	VANGUARD MUN BD FDS TAX EXEMPT BD VTEB	VTEB	99,662	$5.0m0.38%	0.38%	Added +9.4k	+9,407 10.4%
60	ADVANCED MICRO DEVICES INC COM AMD	AMD	8,632	$5.0m0.37%	0.37%	Added +5.2k	+5,216 152.7%
61	ENEL CHILE S.A. SPONSORED ADR ENIC	ENIC	1,089,800	$4.9m0.37%	0.37%	Unchanged
62	CHEVRON CORP NEW COM CVX	CVX	29,004	$4.8m0.36%	0.36%	Added +7.8k	+7,753 36.5%
63	COMPANHIA DE SANEAMENTO BASI SPONSORED ADR SBS	SBS	827,173	$4.8m0.36%	0.36%	Added +31.2k	+31,168 3.9%
64	WEC ENERGY GROUP INC COM WEC	WEC	40,109	$4.7m0.35%	0.35%	Reduced -66.0k	-65,967 -62.2%
65	ECHOSTAR CORP CL A ECHO	ECHO	45,000	$4.6m0.34%	0.34%	Added +15.0k	+15,000 50.0%
66	CENTERPOINT ENERGY INC COM CNP	CNP	103,559	$4.6m0.34%	0.34%	Added +53.1k	+53,131 105.4%
67	SOCIEDAD QUIMICA Y MINERA DE SPON ADR SER B SQM	SQM	58,700	$4.3m0.32%	0.32%	Unchanged
68	MERCADOLIBRE INC COM MELI	MELI	2,537	$4.3m0.32%	0.32%	Added +8	+8 0.3%
69	ISHARES INC MSCI PAC JP ETF EPP	EPP	80,452	$4.3m0.32%	0.32%	Added +1.1k	+1,072 1.4%
70	SUNCOR ENERGY INC NEW COM SU	SU	75,773	$4.1m0.30%	0.30%	Added +54.0k	+54,036 248.6%
71	CHENIERE ENERGY INC COM NEW LNG	LNG	16,830	$4.0m0.30%	0.30%	New
72	SOUTHWEST GAS HLDGS INC COM SWX	SWX	44,840	$4.0m0.30%	0.30%	New
73	ROYALTY PHARMA PLC SHS CLASS A RPRX	RPRX	70,732	$4.0m0.30%	0.30%	Added +11.1k	+11,073 18.6%
74	VANGUARD INDEX FDS REAL ESTATE ETF VNQ	VNQ	39,582	$3.8m0.28%	0.28%	Added +113	+113 0.3%
75	PIMCO ETF TR INTER MUN BD ACT MUNI	MUNI	71,991	$3.8m0.28%	0.28%	Added +2.6k	+2,636 3.8%
76	HCA HEALTHCARE INC COM HCA	HCA	9,611	$3.7m0.28%	0.28%	Added +466	+466 5.1%
77	ISHARES TR BROAD USD HIGH USHY	USHY	98,189	$3.6m0.27%	0.27%	Reduced -6.5k	-6,468 -6.2%
78	MICROSOFT CORP COM MSFT	MSFT	9,648	$3.6m0.27%	0.27%	Reduced -8.6k	-8,584 -47.1%
79	STRYKER CORPORATION COM SYK	SYK	9,490	$3.5m0.26%	0.26%	Reduced -18	-18 -0.2%
80	APPLE INC COM AAPL	AAPL	11,890	$3.4m0.26%	0.26%	Added +1.8k	+1,772 17.5%
81	MORGAN STANLEY ETF TRUST EAT INC OPP ETF XAGG	XAGG	65,791	$3.4m0.25%	0.25%	Added +14.4k	+14,448 28.1%
82	COMCAST CORP NEW CL A CMCSA	CMCSA	136,839	$3.4m0.25%	0.25%	New
83	VENTURE GLOBAL INC COM CL A VG	VG	300,000	$3.3m0.25%	0.25%	New
84	TAKE-TWO INTERACTIVE SOFTWAR COM TTWO	TTWO	12,970	$3.2m0.24%	0.24%	Added +9.7k	+9,720 299.1%
85	GERDAU SA SPON ADR REP PFD GGB	GGB	785,688	$3.2m0.24%	0.24%	Added +19.8k	+19,764 2.6%
86	KENVUE INC COM KVUE	KVUE	165,088	$3.2m0.24%	0.24%	Reduced -58.8k	-58,833 -26.3%
87	TELEPHONE & DATA SYS INC COM NEW TDS	TDS	85,157	$3.2m0.24%	0.24%	New
88	ISHARES TR TIPS BD ETF TIP	TIP	29,614	$3.1m0.23%	0.23%	Added +3.4k	+3,385 12.9%
89	MICRON TECHNOLOGY INC COM MU	MU	2,667	$3.1m0.23%	0.23%	Added +1.4k	+1,377 106.7%
90	ELECTRONIC ARTS INC COM EA	EA	15,000	$3.1m0.23%	0.23%	Reduced -8.0k	-8,000 -34.8%
91	SPIRE INC COM SR	SR	38,220	$3.0m0.22%	0.22%	New
92	DEVON ENERGY CORP NEW COM DVN	DVN	71,765	$3.0m0.22%	0.22%	New
93	SUNOCOCORP LLC COM SHS LLC SUNC	SUNC	42,940	$2.9m0.22%	0.22%	New
94	J P MORGAN EXCHANGE TRADED F MUNICIPAL ETF JMUB	JMUB	57,136	$2.9m0.22%	0.22%	Added +6.8k	+6,762 13.4%
95	ASML HOLDING N V N Y REGISTRY SHS ASML	ASML	1,415	$2.8m0.21%	0.21%	Added +690	+690 95.2%
96	ISHARES TR ISHARES BIOTECH IBB	IBB	14,799	$2.8m0.21%	0.21%	Reduced -1.2k	-1,198 -7.5%
97	ISHARES TR 7-10 YR TRSY BD IEF	IEF	29,495	$2.8m0.21%	0.21%	Added +8.5k	+8,531 40.7%
98	HIVE DIGITAL TECHNOLOGIES LT COM NEW HIVE	HIVE	750,000	$2.7m0.20%	0.20%	New
99	WILLIAMS COS INC COM WMB	WMB	36,530	$2.7m0.20%	0.20%	New
100	CITIZENS FINL GROUP INC COM CFG	CFG	38,469	$2.7m0.20%	0.20%	Reduced -8.7k	-8,676 -18.4%

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
DOMINION ENERGY INC D	D	202,152	$12.5m202.2k shares
ESSENTIAL UTILS INC WTRG	WTRG	217,672	$8.8m217.7k shares
FIRSTENERGY CORP FE	FE	142,494	$7.2m142.5k shares
CONSOLIDATED EDISON INC ED	ED	40,438	$4.6m40.4k shares
BOSTON SCIENTIFIC CORP BSX	BSX	21,128	$2.0m21.1k shares
TXNM ENERGY INC TXNM	TXNM	26,846	$1.6m26.8k shares
HARTFORD INSURANCE GROUP INC HIG	HIG	11,098	$1.5m11.1k shares
INTERNATIONAL SEAWAYS INC INSW	INSW	19,182	$1.4m19.2k shares
PNC FINL SVCS GROUP INC PNC	PNC	6,644	$1.4m6.6k shares
TC ENERGY CORP TRP	TRP	21,719	$1.4m21.7k shares
WHEATON PRECIOUS METALS CORP WPM	WPM	8,076	$1.1m8.1k shares
GOLDMAN SACHS GROUP INC GS	GS	1,239	$1.0m1.2k shares
ULTA BEAUTY INC ULTA	ULTA	1,838	$960.7k1.8k shares
SSR MINING IN SSRM	SSRM	28,767	$845.8k28.8k shares
INTEL CORP INTC	INTC	18,303	$807.7k18.3k shares
GALLAGHER ARTHUR J & CO AJG	AJG	3,460	$749.4k3.5k shares
PROCTER AND GAMBLE CO PG	PG	5,105	$737.4k5.1k shares
MOODYS CORP MCO	MCO	1,690	$737.3k1.7k shares
B2GOLD CORP BTG	BTG	161,097	$729.8k161.1k shares
GOLUB CAP BDC INC GBDC	GBDC	729	$698.3k729 shares
EXXON MOBIL CORP XOM	XOM	2,990	$507.3k3.0k shares
INTUIT INTU	INTU	1,000	$432.4k1.0k shares
RTX CORPORATION RTX	RTX	2,188	$422.1k2.2k shares
EOG RES INC EOG	EOG	2,681	$387.6k2.7k shares
INGREDION INC INGR	INGR	3,221	$362.9k3.2k shares

Options (notional value)

Underlying	Ticker	Type	Shares controlled	Notional	Change
SPDR S&P 500 ETF TR SPY · Put	SPY	Put	105,900	$79.1m105.9k shares	Added
LISTED FDS TR MAGS · Put	MAGS	Put	367,500	$23.6m367.5k shares	New
SPDR S&P 500 ETF TR SPY · Call	SPY	Call	22,900	$17.1m22.9k shares	New
BANK AMERICA CORP BAC · Put	BAC	Put	225,000	$12.8m225.0k shares	New
BANK AMERICA CORP BAC · Call	BAC	Call	225,000	$12.8m225.0k shares	New
SIMON PPTY GROUP INC NEW SPG · Call	SPG	Call	40,000	$8.9m40.0k shares	New
SIMON PPTY GROUP INC NEW SPG · Put	SPG	Put	40,000	$8.9m40.0k shares	New
SELECT SECTOR SPDR TR XLE · Put	XLE	Put	158,100	$8.4m158.1k shares	Reduced
SELECT SECTOR SPDR TR XLE · Call	XLE	Call	158,100	$8.4m158.1k shares	Reduced
JPMORGAN CHASE & CO JPM · Call	JPM	Call	25,000	$8.2m25.0k shares	New
JPMORGAN CHASE & CO JPM · Put	JPM	Put	25,000	$8.2m25.0k shares	New
INVESCO QQQ TR QQQ · Put	QQQ	Put	9,800	$7.2m9.8k shares	Added
NVIDIA CORPORATION NVDA · Call	NVDA	Call	34,000	$6.8m34.0k shares	New
AMAZON COM INC AMZN · Call	AMZN	Call	28,400	$6.8m28.4k shares	New
METLIFE INC MET · Call	MET	Call	75,000	$6.3m75.0k shares	New
METLIFE INC MET · Put	MET	Put	75,000	$6.3m75.0k shares	New
TOTALENERGIES SE TTE · Put	TTE	Put	75,000	$6.3m75.0k shares	Reduced
TOTALENERGIES SE TTE · Call	TTE	Call	75,000	$6.3m75.0k shares	Reduced
AMAZON COM INC AMZN · Put	AMZN	Put	20,000	$4.8m20.0k shares	New
WALMART INC WMT · Put	WMT	Put	22,300	$2.5m22.3k shares	New
ISHARES TR EEM · Call	EEM	Call	27,800	$1.9m27.8k shares	New
ISHARES TR IGV · Call	IGV	Call	19,200	$1.7m19.2k shares	New
SPDR GOLD TR GLD · Call	GLD	Call	4,600	$1.7m4.6k shares	Added
INVESCO QQQ TR QQQ · Call	QQQ	Call	2,300	$1.7m2.3k shares	New
MICROSOFT CORP MSFT · Call	MSFT	Call	3,800	$1.4m3.8k shares	Reduced